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Sun Silver (ASX:SS1) has increased its Maverick Springs resource by 45% to 423Moz of silver and gold with a combined average equivalent grade of 67.2g/t.
Looking purely at silver, the company has a new JORC resource of 253Moz at 40.2g/t. The company pointed to high-grade silver hit in recent drilling on-site which isn’t yet included in the former or updated mineral resource estimate (MRE).
“The updated August 2024 MRE remains open in all directions,” the company wrote on Wednesday.
“The significant increase in size of the Inferred Resource is primarily due to the inclusion of the entire mineralised domain outlined at the Project which is deemed to have reasonable prospects for eventual economic extraction at current and future silver and gold prices,” it added.
Drilling remains ongoing at Maverick Springs sniffing around the northwest portion of the landholding given that’s where drillers, back under former owners, hit grades over 6,000g/t silver, Sun Silver wrote.
The company is firmly confident it now boasts the largest pre-production primary silver asset on the ASX. The company has been busy applying for a US government grant that would award it nearly A$90M to build a silver paste facility in the States.
A silver paste plant would be a huge step forward in the US being able to build its own solar panels. Silver is, fun fact, more conductive than copper.
SS1 last traded at 57cps.
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